Connect with us


Ghana funds ten youth start-ups

Ghana has recently launched the Presidential Pitch competition; a business idea competition that aims to expand the entrepreneurial climate in the country and enable its youth come up with creative ideas that would be developed into global enterprises



Ghana has recently launched the Presidential Pitch competition; a business idea competition that aims to expand the entrepreneurial climate in the country and enable its youth come up with creative ideas that would be developed into global enterprises.

The maiden edition of the competition is an embodiment of the Ghanaian government’s efforts to implement policies and programmes that will create and expand the frontiers of ecosystem entrepreneurship skills among Ghanaian youth.

The competition operates under the auspices of the Ministry of Business Development which oversees it. They received over 2000 Business proposals nationwide. The 20 shortlisted proposals were benchmarked, based on four thematic areas; feasibility, innovative, scalability and impact fullness. These selected 20 youth entrepreneurs, between the ages of 18 and 35 years, will be assigned mentors and attached to various businesses. The rest will remain at the Ministry’s incubator hub for further developing them into viable businesses opportunities.

Read Also: Kenya looks up to Google’s Project Loon for better internet coverage

Out of the ten entrepreneurs who pitched their ideas is 19 year old Vanessa Aisha Liman, from Sissala in the Upper West Region, walked away with a cash price of USD 10, 50 on top of a personal donation of USD 5250 from the President of the Republic of Ghana. Abdul-Salam Mohammed came in as runners-up and won USD 10,000, followed closely by Ahmed Tijani who took home USD 9,386. The 7 remaining competitors taking away a cash price of USD 6,250 each.

President Akufo-Addo, who launched the Presidential Pitch on Monday, expressed his optimism and expectation that the 10 beneficiary companies would help “create jobs and employment for at least three people each.


AFC to invest $40m in African Medical Centre of Excellence in Nigeria



The Africa Finance Corporation (AFC) has committed $40 million equity investment in the African Medical Centre of Excellence (AMCE) in Abuja, Nigeria.

AFC, which is Africa’s top instrumental infrastructure solutions provider, signed the equity investment term sheet pledging the sum towards the construction of the AMCE hospital.

According to a statement by AFC President and CEO, Samaila Zubairu, the agreement will see the visionary 500-bed medical health facility currently being developed by Africa Export-Import Bank (Afreximbank), in partnership with King’s College Hospital, London (KCH), become one of the best health facilities in the continent.

Zubairu said the agreement which was signed at the inaugural AMCE African Health Forum in Abuja on Friday, will “strategically harness KCH’s unparalleled diagnostic, clinical, and capacity-building expertise and specialise in three core non-communicable diseases – oncology, cardiology, and haematology – with a commitment to world-class research, education, and development capabilities to establish itself as a leader in clinical services.”

“The AMCE initiative heralds a revolution in healthcare in West Africa. It aims to turn the tide of medical tourism away from the continent by building the first in a series of world-class medical centres of excellence in Africa, thus providing widespread access to critical health care in the region,” the AFC CEO said.

“Africa’s healthcare sector suffers a severe and alarming infrastructure gap and a shortage of qualified medical practitioners.

“We are therefore pleased to partner alongside Afreximbank and King’s College Hospital, London, on this epoch-making project that will transform healthcare in Africa and contribute to a reversal in medical tourism.

“Building a world-class facility that captures medical spend in Africa, promotes specialist skills development, retains and, most importantly, attracts healthcare practitioners in our local communities, aligns well with AFC’s import substitution strategy and we look forward to working with all partners to establish the AMCE as a beacon of medical excellence on the continent.”

Continue Reading


Uganda’s Diamond Trust Bank partners TerraPay for ease of global money transfers



Leading Ugandan bank, Diamond Trust Bank Uganda (DTBU), has entered into a partnership with global cross-border payments network company, TerraPay, aimed at expanding international money transfers and strengthening financial inclusion in the country.

While announcing the strategic partnership on Friday, DTBU, a member of the Diamond Trust Bank Group, said both firms will deliver unparalleled benefits to customers worldwide with the key attributes of the partnership being the “ability to facilitate direct account deposits from any part of the world and leverage DTB’s renowned brand name to optimize advantages for customers across the globe.”

A statement by the Managing Director, Diamond Trust Bank Uganda, Varghese Thambi, noted that the partnership is poised to “significantly narrow the financial inclusion gap, streamlining the processes of money transfer, savings, and credit accessibility for individuals.”

“We are committed to providing our customers with the best possible banking experience.

“This partnership with TerraPay will allow us to offer our customers faster, more convenient, and more secure money transfers, with lower fees.

“By forging this collaboration with TerraPay, Diamond Trust Bank Uganda will witness an expansion in its customer base for international money transfers, consequently bolstering direct international investments within the nation.

“Notably, this initiative will greatly benefit customers and expatriates residing in the United Arab Emirates, the United Kingdom, the United States, Kenya, Germany, Qatar, Canada, and Europe, granting them the capability to execute real-time money transfers to their loved ones in Uganda, a pivotal hub within this partnership.”

Also commenting on the partnership, Willie Kanyeki, TerraPay’s Vice President, East and South Africa, said:

“We are excited to partner with Diamond Trust Bank Uganda to expand our reach in East Africa and make it easier for people to send and receive money across borders.

“This partnership will help us achieve our goal of providing everyone with access to affordable, reliable financial services. Diamond Trust Bank Uganda is a well-respected bank with a strong track record of providing excellent customer service.

“We are confident that this partnership will be a success and will help promote financial inclusion in the region, by simplifying global money movement for both individuals and businesses, making it easier than ever to connect with loved ones and also, empower global commerce.”

Continue Reading


Behind the News12 hours ago

Behind the News: All the backstories to our major news this week

Over the past week, there were many important stories from around the African continent, and we served you some of...

Culture13 hours ago

Owners of South Africa bar where teenagers died in 2022 to pay fine or go to jail

The owners of a South African bar where 21 teenagers died after drinking contaminated alcohol during a party in 2022...

Tech14 hours ago

AFC to invest $40m in African Medical Centre of Excellence in Nigeria

The Africa Finance Corporation (AFC) has committed $40 million equity investment in the African Medical Centre of Excellence (AMCE) in...

Metro14 hours ago

Zambia signs creditor agreement deal with China, India to resolve debt crisis

President Hakainde Hichilema of Zambia has announced the signing of an official creditor agreement with China and India that will...

VenturesNow16 hours ago

Nigeria targets 1,268MW from new power plants

Eight brown and green field hydropower projects built through public-private partnerships are expected to yield 1,268 megawatts of electricity, according...

Sports16 hours ago

How Super Eagles players, Bassey, Iwobi disunited Man U

It was a Nigerian affair at the revered Old Trafford stadium as the Super Eagles duo of Calvin Bassey and...

Metro22 hours ago

Four of 10 Nigerians indebted to loan sharks— Report

A report from a research carried out by Nigerian fintech platform, Piggy Vest, has revealed that four out of 10...

VenturesNow23 hours ago

Tanzania begins fresh round of Treasury bond auctions

In an effort to reduce national debt and increase the amount of money in circulation in the face of a...

Politics2 days ago

ECOWAS folds, lifts economic, travel sanctions on junta-led Niger, others

Economic sanctions on Niger, Mali, and Burkina Faso were lifted with immediate effect by the Economic Community of West African...

Musings From Abroad2 days ago

Kenya, UAE seal economic relations deal

Thani Al Zeyoudi, the United Arab Emirate’s minister of foreign trade, has announced that his country and Kenya have reached...